KUALA LUMPUR, Jan 31 — The retail price of RON97 petrol dropped 8 sen to RM2.41 a litre, while RON95 and diesel are maintained at RM2.08 and RM2.18 a litre, respectively, effective midnight until February 7.

The Ministry of Finance, in a statement today, announced that based on the calculations under the Automatic Pricing Mechanism (APM) formula, the retail price of RON95 petrol and diesel for the period should have been RM2.11 and RM2.18 a litre, respectively.

"This shows a decrease from last week for the retail price of RON95 petrol which was at the RM2.19 a litre level and diesel which was at the RM2.26 a litre level.

"But the retail prices for both products are maintained at RM2.08 a litre and RM2.18 a litre, respectively, in line with the government’s decision to stabilise retail prices for petroleum products and to safeguard the people’s economic well-being,” he said.

The statement also mentioned that by maintaining the retail prices of both products, the estimated subsidy which must be borne by the government for February 1 to 7, 2020 amounted to RM10.43 million. — Bernama